In the first nine months of this year, Uzbekistan Airways has significantly increased its net profit. Spot has reviewed the financial statements of the national airline (available to the editorial team).
The net profit of Uzbekistan Airways for the third quarter amounted to 494.0 billion soums, which is 2.45 times higher compared to the same period in 2023, when the figure was 143.1 billion soums.
The net revenue from product sales totaled 12.8 trillion soums (an increase of 18.9%). The cost of goods sold resulted in expenses of 10.9 trillion soums, which significantly raised overall costs.
Despite the rise in production costs, the company's gross profit was 2 trillion soums, slightly above last year's figure (+21.7%).
Currency losses amounted to 614.4 billion soums. Total expenses for the reporting period reached 1.431 trillion soums. While costs for sales and administration remained roughly the same, other operating expenses surged almost 4.5 times to 1.13 trillion soums.
Other income from core activities amounted to 313 billion soums, allowing the company to report a profit from core operations of 896 billion soums, although this is lower compared to last year.
Earlier, Spot reported that "Hududgazta'minot" doubled its net profit in the first half of the year.